Form 4: Cadre Holdings CFO Blaine Browers Reports Stock Transactions
SEC Form 4 Filing
Blaine Browers, CFO of Cadre Holdings, reports the vesting of phantom stock, tax withholding, and grants of restricted stock units and stock options.
Summary
- On March 18, 2024, Blaine Browers, the CFO of Cadre Holdings, Inc., reported transactions involving the company's stock.
- These transactions include the vesting of 55,333 shares of phantom stock, the withholding of 21,774 shares for tax obligations at a price of $34.66, and the grant of 9,846 restricted stock units.
- Additionally, Browers was granted an option to purchase 31,023 shares of common stock at an exercise price of $34.66.
- Following these transactions, Browers directly owns 107,876 shares of Cadre Holdings, Inc. common stock and 9,846 restricted stock units.
- He also holds options to purchase 31,023 shares of common stock.
Sentiment
Score: 7
Explanation: The document reflects standard executive compensation practices, which are generally viewed neutrally to positively as they align management interests with shareholders. The sentiment is slightly positive due to the incentive structure.
Positives
- The granting of restricted stock units and stock options to the CFO aligns his interests with those of the shareholders.
- The vesting schedule for the restricted stock units and stock options encourages long-term commitment from the CFO.
Future Outlook
The restricted stock units and stock options will vest over the next three years, incentivizing the CFO to remain with the company.
Industry Context
Stock-based compensation is a common practice for publicly traded companies to incentivize executives and align their interests with shareholders.
Comparison to Industry Standards
- Comparing Cadre Holdings' executive compensation structure to similar companies in the safety and security industry would provide a benchmark for assessing the competitiveness and appropriateness of the compensation packages.
- Companies like MSA Safety Incorporated and Axon Enterprise, Inc. also utilize stock options and restricted stock units as part of their executive compensation packages.
- Analyzing the vesting schedules, grant sizes, and performance metrics associated with these awards would offer valuable insights into Cadre Holdings' compensation practices.
Stakeholder Impact
- Shareholders may view the stock-based compensation positively as it aligns management's interests with the company's long-term performance.
- Employees may be motivated by the potential for future stock-based compensation.
Key Dates
| Date | Description |
|---|---|
| 2022-03-09 | Reporting Person was granted a phantom stock award under the Safariland Group Amended and Restated 2021 Phantom Restricted Share Plan consisting of 166,000 shares of phantom stock. |
| 2022-03-18 | 55,334 shares of phantom stock vested and became non-forfeitable. |
| 2023-03-18 | 55,333 shares of phantom stock vested and became non-forfeitable. |
| 2024-03-18 | Earliest transaction date; 55,333 shares of phantom stock vested; restricted stock units and stock options granted. |
| 2025-03-18 | First vesting date for restricted stock units (3,282 shares) and stock options (10,341 shares). |
| 2026-03-18 | Second vesting date for restricted stock units (3,282 shares) and stock options (10,341 shares). |
| 2027-03-13 | Third vesting date for restricted stock units (3,282 shares). |
| 2027-03-18 | Third vesting date for stock options (10,341 shares). |
| 2034-03-18 | Expiration date for stock options. |
| 2024-03-20 | Date of signature. |
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